Sarbanes-Oxley Act

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The Sarbanes-Oxley Act was enacted in July 2002 in response to numerous, widely publicized corporate failures attributed largely to accounting irregularities and other corporate wrongdoing. The Act, and associated SEC implementing rules, imposed new requirements on public companies and their outside auditors, and further defined and expanded the audit committee's role of overseeing the public company's accounting and financial reporting activities.
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